UB#CCB RC2808C

BOC International Raises Target Price for ICBC to HKD 11.3

JPMorgan Reports: CCB's Q1 2026 Earnings Exceed Expectations

Goldman Sachs Maintains Buy Rating on CCB with Target Price of HKD 9.96

Citi Report Suggests Construction Bank's Q1 PPOP Growth of 13%

China Construction Bank's Q1 2026 Revenue and Non-interest Income Growth Leads Among Big Six Banks

CDB's Liquidity Coverage Ratio Rises to 138.12% in Q1 2026

Construction Bank's Q1 Net Profit Up 3.53% YoY

CCB released FY2026 Q1 earnings on April 29 Pre-Market (BJT), actual revenue HKD 164.11 B (forecast HKD 229.17 B), actual EPS HKD 0.3741

CDB Releases 2025 Annual Report: Robust Profit Growth

CCB to Release FY2026 Q1 Earnings on April 29 Pre-Market BJT, Forecast Revenue HKD 232.17 B

A 股 Bank Stocks Surge, Several Banks Hit New Highs

Shanghai Guotou Company Hosts 2026 Angel Investment Conference to Promote Early Stage Capital Investment

Citibank: CCB's Q1 Earnings May Exceed Expectations

Goldman Sachs Maintains Buy Rating on CCB with Price Target

China Construction Bank and China Huadian Sign Strategic Cooperation Agreement

China Construction Bank Discloses Jianxin Consumer Finance's 2025 Annual Report: Net Profit Surges 170% Year-on-Year

BOC International raises target price for Construction Bank to HKD 11.28 and maintains 'Buy' rating

China Construction Bank Boosts Revenue Growth Through Non-Interest Income

CCB Announces FY22 Results, BofA Securities Upgrades Rating

CITIC Bank Reports QTR Earnings Per Share Above Estimates

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A research report by M Stanley highlights that Chinese banks have integrated AI into their core infrastructure, enhancing efficiency and competitiveness while maintaining stable return on equity (ROE). The report notes significant AI investments by major state-owned banks, with each exceeding RMB25 billion. Banks that effectively apply AI across their operations are expected to excel. Industry leaders include ICBC, CCB, and CM BANK, which combine technological prowess with strong execution.

AASTOCKS News

China Construction Bank

INDUSTRIAL & COMMERCIAL BK OF CHINA UNSP ADR EACH REPR 20 ORD SHS

ICBC

CM BANK

China Merchants Bank

Fullgoal CSI 800 Banks ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

China Merchants CSI BANK AH Price ETF

Hwabao WP CSI Banks ETF

China Southern CSI Banks ETF

Huaan CSI Banks ETF

ChinaAMC CSI Banks ETF

WP CSI Banks ETF

Morgan Stanley

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MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

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M Stanley: Chinese Banks Have Integrated AI into Core Infrastructure, Supporting ROE Stability and Enhancing Corporate Competitiveness

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SPDB International reported that southbound funds recorded a net inflow of HKD56.54 billion into Hong Kong stocks in April, down from HKD61.4 billion in March. The average daily turnover share of these funds decreased to 21.3%. The report highlighted a preference for high-dividend stocks and quality growth names, with notable inflows into CHINA MOBILE, CCB, and XIAOMI. The top 20 stocks by net southbound inflows included CHINA MOBILE (HKD7.93 billion) and CCB (HKD6.09 billion).

CHINA MOBILE

Hang Seng Index

CHINA SHENHUA

CSEC/China Shenhua

SINOPEC CORP

Sinopec Corp.

XIAOMI-W

LENOVO GROUP

Lenovo Group

ASMPT

POP MART

3SBIO

AKESO

HANSOH PHARMA

KUAISHOU-W

BANK OF CHINA

Bank Of China

KB LAMINATES

PICC P&C

PICC Group

HUANENG POWER

Huaneng Power International, Inc. Sponsored ADR Class N

LI AUTO-W

Li Auto

China Mobile

CN Mobile HK SDR 5to1

CHINA MOBILE-R

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

LENOVO GROUP-R

POP MART HK SDR 20to1

Sunshine Guojian Pharmaceutical

KUAISHOU-WR

BOC HONG KONG

Bank of China

SPDB International Lists Top 20 Southbound Net Buys in HK Stocks for Apr (Table)

BOCI has slightly raised the target price for China Construction Bank (CCB) from HKD11.28 to HKD11.3 while maintaining a Buy rating. The bank reported a 3.5% year-on-year increase in net profit for Q1 2026, with a stable non-performing loan ratio of 1.31% as of March 2026. The report highlights solid asset quality and a relatively low valuation for the bank.

BOCI Slightly Raises CCB  TP to HKD11.3, Maintains Buy

JPM's report indicates that CCBexceeded forecasts in 1Q26, with revenue growth of 11% YoY and profit growth of 4% YoY, surpassing broker expectations by 9% and 2%, respectively. The results were driven by a 8 bps QoQ NIM expansion, the highest among major state-owned banks. All major revenue items, including net interest income and fee income, performed strongly. JPM maintains an Overweight rating on CCB with a target price of HKD9.8, anticipating a positive share price reaction.

JPMorgan Chase

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JPMorgan Chase & Co.

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JPM: CCB  1Q Results Beat Forecasts Strongly

UBS's report highlights that mainland Chinese banks, particularly state-owned ones, exceeded expectations in Q1, with an average revenue growth of 8.5%. This growth was driven by a rebound in net interest margin (NIM), resilient fee income, and a low trading income base. Despite higher provisioning, earnings grew by 3.4%. UBS favors defensive, high-dividend bank stocks like CCB and ICBC, but warns of deteriorating retail loan asset quality, which may affect earnings growth differently between large state-owned and joint-stock banks.

UBS Group AG

CITIC BANK

CNCB

Bank of Ningbo

UBS: Mainland Banks' 1Q Results Generally Beat; NIM Rebounds; State-owned Big Banks Outperform

In a report released on May 1, from Goldman Sachs maintained a Buy rating on China Construction Bank, with a price target of HK$9.96.Claim 55% Off TipRanksUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Currently, the analyst consensus on China Construction Bank is a Strong Buy with an average price target of HK$10.26.

- On May 1, Goldman Sachs maintained a "Buy" rating for the Construction Bank with a target price of HKD 9.96.  
- Analysts currently have a consensus rating of "Strong Buy" for the Construction Bank, with an average target price of HKD 10.26.  
- The report highlights a 55% discount on TipRanks, providing access to hedge fund-level data and investment tools.

Tip Ranks

Goldman Sachs

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China Construction Bank (CICHF) Receives a Buy from Goldman Sachs

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UBS's research report highlights that state-owned Chinese banks outperformed expectations in Q1, with an 8.5% revenue increase, the highest since 2021. This growth was driven by improved net interest margins and solid fee income. While regional banks met expectations, joint-stock banks showed mixed results. The report indicates an improving operating environment for mainland banks, with potential upward revisions in earnings growth for state-owned banks. UBS remains positive on defensive bank stocks with high dividend yields, favoring CCB, Bank of China, ICBC, CITIC Bank, and Bank of Ningbo.

UBS: State-Owned CN Banks Stand Out in 1Q; Operating Conditions Improving

HSBC Research reported that China's banks exceeded first-quarter expectations, driven by strong earnings growth and improved net interest margins (NIM). Large state-owned banks showed exceptional performance, while corporate banking outperformed retail banking. HSBC anticipates further improvement in the sector's fundamentals this year, leading to a re-rating of P/E multiples. Top stock picks include ICBC H-shares, CCB H-shares, and CMB A-shares, all rated Buy with target prices of HKD8, HKD10.7, and RMB56.3 respectively.

PSBC

HSBC Research: China Banks 1Q Results Beat; Fundamentals Expected to Further Improve This Year

China's Big Four banks reported stronger-than-expected first-quarter earnings, with combined net profit reaching approximately 305 billion yuan (US$44.6 billion). This growth was driven by a recovery in net interest income, which rose over 7%, and improved asset quality. Analysts noted resilient loan growth, particularly in government-related sectors like infrastructure and manufacturing. The banks are increasingly supporting policy priorities, with significant increases in loans to technology firms and manufacturing. Moody's Ratings revised the outlook of these banks from negative to stable, reflecting expectations of continued government support.

SCMP

Citigroup

Moodys

CITIGROUP INC 6.250 NON CUM SER II PFD WI

China’s Big Four banks post stronger earnings as policy lending lifts growth

UBS reported that CCBachieved a net profit after tax of RMB86.3 billion in 1Q26, a 3.5% YoY increase, surpassing expectations. Revenue rose 11% YoY, driven by an 8.1% increase in net interest income and a 96% surge in other non-interest income. Operating expenses grew only 3.5% YoY, leading to a 13.3% increase in pre-provision profit, the best among the Big Four banks. UBS maintains a Buy rating with a target price of HKD10.2.

UBS: CCB  1Q26 Net Profit Beats Expectations, Rated Buy

UB#CCB RC2808C(58546.HK)